Spuul, the over-the-top (OTT) platform based in Singapore, is foraying investment in original content, although the company has not decided on the amount of investment and the period yet.
Rajiv Vaidya, the CEO of Spuul, said: “We are going to go for original content. We haven’t gone for it. It also takes time to do it. We have to do it otherwise we will die. The plans are there but this is high investment decision. Whether the time is right enough. At the end of it you want returns”.
The decision has been taken due to new entrants making their way in the OTT industry across the Indian market. However, Spuul claims it has 700000 subscriptions worldwide and 24 million active users worldwide. The company did not give the India specific active subscriptions.
Further according to Vaidya: “We have 7 lakh subscriptions, not subscribers. Because you see they sometimes lapse. At a given point in time paid subscriptions are 700000. We are cash positive. We are not losing money”.